How to make the move from Financial Controller to Finance Director

Progressing from a Financial Controller to a Finance Director is an ambitious career move that requires a strategic approach, continuous skill development, and strong leadership. The scope of a Finance Director’s responsibilities are much more expansive and to take that leap you’ll need to make sure you’ve worked on the skills needed to succeed in, what can be, a highly pressured role.

We know that as your company’s Financial Controller you’ve already mastered financial analysis, budgeting, and reporting. But as the Finance Director, you’ll need to deepen your understanding of financial management strategies, risk assessment, and capital allocation. Perhaps the most difficult part of any transition from senior executive to business leader is becoming a visionary leader with the ability to communicate effectively.

Here are some key areas to focus on if you want to progress your career:

1. Develop Strategic Thinking

As they work closely with the Board, Finance Directors are integral to shaping the long-term vision and strategy of an organisation. Therefore, during your tenure as Financial Controller, you should familiarise yourself with the broader business landscape, industry trends and conduct competitor analysis. Collaborating with other departments to gain insight into the company's overall business operations will enable you to have a sense of the ‘big picture’. You need to enhance your understanding of how financial decisions impact the entire organisation and must learn to think beyond numbers and understand the overall business implications of Finance Director’s decisions.

2. Leadership and Communication Skills Are a Must

Effective leadership is crucial for Financial Directors, so work on your interpersonal and communication skills. It is likely that as Finance Director you will be managing a team and interacting with senior stakeholders on a daily basis. Seek to lead and not follow by piloting projects that showcase your ability to motivate and mentor others.

3. Build Your Personal Brand

Building a strong personal brand is crucial for aspiring Finance Directors as it establishes your expertise and credibility in the finance field beyond your organisation. Leverage social platforms like LinkedIn to share insights, publish articles, and engage with the finance community. Cultivating your reputation as someone who is reliable and ethical is vital, as trustworthiness and integrity are highly valued in financial leadership positions.

4. Find a role where you will be mentored

Being mentored by a CFO or Finance Director is also a great way to give yourself an advantage in your career progression and you should keep your eye out for roles which might offer this opportunity. As existing Finance Directors make their succession plans, it’s becoming more common to offer mentoring to FC hires, who then might move into a Head of Finance type role, reporting into an FD or CFO. Be careful not to overlook these sort of opportunities as not offering a big enough step up - remain open-minded as it could just be the opening you are seeking.

5. Network and Build Relationships

It might seem easier to stay in your office and not venture out, but successful Finance Directors interact with senior stakeholders, the industry and more junior members of staff on a daily basis. You have to feel comfortable talking to people at all levels. You can do this by building relationships within your organisation and beyond, by attending industry events and conferences. Take every opportunity to network with professionals from other companies and gain insights into best practices.

6. Move Up or Move On

This can sound a little aggressive but hear us out. If you’ve gone as far as you can in your current organisation and you feel that the opportunity to evolve isn’t there, then isn’t it time to consider making a move? Many larger organisations will often want to hire people who are already at the Finance Director level. So consider applying for Finance Director roles with smaller businesses, get the title and experience – then, when you want to take the next step, this will get you noticed, and on Finance Director shortlists against Financial Controllers from larger organisations. Also, having the Finance Director role on your LinkedIn profile will make you much more visible to recruiters and talent acquisition teams for future career moves.

Transitioning from a Financial Controller to a Finance Director requires a combination of technical expertise, leadership skills, and a forward-thinking mindset. By proactively seeking opportunities for growth, building a strong network, and honing your strategic skills, you can position yourself for success and advance your career to the executive level. But also remember that if you’re not progressing the way you want to, you’re not stuck.

SRM Recruitment works with finance professionals on a daily basis seeking to progress their careers. Speak to our expert team today for an informal conversation about your next career move. Email [email protected]